Their handeling of Fannie/Freddie is what has brought us to this economic collapse--in which our government decided it would be a great idea to co-sign our names to 50% of the mortgages in this country while lowering lending standards & incorporating sub-prime mortgages.All banking & wall street bail-outs lead right back to the failure of Fannie/Freddie.

This is what your government has done to you. Now YOU get to fix it. Not only YOU but your children & grandchildren.

As far as this congress & Obama--they believe that throwing trillions of YOUR dollars at the problem will fix this. This of course leads to very expensive massive government expansion & all the while the private sector is SHRINKING.

"The problem with socialism is that government eventually runs out of other peoples money to spend" Margaret Thatcher

Their handeling of Fannie/Freddie is what has brought us to this economic collapse--in which our government decided it would be a great idea to co-sign our names to 50% of the mortgages in this country while lowering lending standards & incorporating sub-prime mortgages.All banking & wall street bail-outs lead right back to the failure of Fannie/Freddie.

This is what your government has done to you. Now YOU get to fix it. Not only YOU but your children & grandchildren.

As far as this congress & Obama--they believe that throwing trillions of YOUR dollars at the problem will fix this. This of course leads to very expensive massive government expansion & all the while the private sector is SHRINKING.

"The problem with socialism is that government eventually runs out of other peoples money to spend" Margaret Thatcher

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This is a canard. Fannie and Freddie had little to do with the melt-down.

If they did, then the home prices that would have shot up the most would have been those that were GSE qualifying mortgages. In fact, those homes went up the least. It was the homes financed by mortgages that did not qualify for GSE backing that went up the most. It is simple supply/demand economics.

As for subprime, at the very height of the bubble, the GSEs accounted for something like less than 10% of all subprime mortgages written during the year, and even less for Alt-A. All the subprime mortgages underwritten by Freddie and Fannie were something like 0.1% of the entire mortgage market. Subprime was a creation of private mortgage underwriters who dominated the market and had nothing to do with the GSEs.

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